A $3.8 trillion tech titan is set to report earnings after the bell, and expectations are sky-high. With dominance in AI infrastructure and cloud services, this update could set the tone for the entire market. Find out why Wall Street is locked in on this release today.

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What to Watch
Premarket Earnings:
Banco Santander, S.A. [SAN]: Premarket
Automatic Data Processing, Inc. [ADP]: Premarket
UBS AG [UBS]: Premarket
Trane Technologies plc [TT]: Premarket
Altria Group [MO]: Premarket
GSK plc [GSK]: Premarket
Illinois Tool Works Inc. [ITW]: Premarket
American Electric Power Company, Inc. [AEP]: Premarket
Vertiv Holdings, LLC [VRT]: Premarket
Garmin Ltd. [GRMN]: Premarket
Takeda Pharmaceutical Company Limited [TAK]: Premarket
Verisk Analytics, Inc. [VRSK]: Premarket
Hershey Company (The) [HSY]: Premarket
Entergy Corporation [ETR]: Premarket
GE HealthCare Technologies Inc. [GEHC]: Premarket
Banco Santander Brasil SA [BSBR]: Premarket
Old Dominion Freight Line, Inc. [ODFL]: Premarket
WEC Energy Group, Inc. [WEC]: Premarket
The Kraft Heinz Company [KHC]: Premarket
Tradeweb Markets Inc. [TW]: Premarket
Aftermarket Earnings:
Microsoft Corporation [MSFT]: Aftermarket
Meta Platforms, Inc. [META]: Aftermarket
QUALCOMM Incorporated [QCOM]: Aftermarket
Arm Holdings plc [ARM]: Aftermarket
Lam Research Corporation [LRCX]: Aftermarket
Robinhood Markets, Inc. [HOOD]: Aftermarket
Canadian Pacific Kansas City Limited [CP]: Aftermarket
Agnico Eagle Mines Limited [AEM]: Aftermarket
Allstate Corporation (The) [ALL]: Aftermarket
Public Storage [PSA]: Aftermarket
Cognizant Technology Solutions Corporation [CTSH]: Aftermarket
Fair Isaac Corporation [FICO]: Aftermarket
Prudential Financial, Inc. [PRU]: Aftermarket
eBay Inc. [EBAY]: Aftermarket
DexCom, Inc. [DXCM]: Aftermarket
VICI Properties Inc. [VICI]: Aftermarket
Extra Space Storage Inc [EXR]: Aftermarket
Economic Reports:
ADP Employment [July]: 8:15 am
GDP [Q2]: 8:30 am
GDP Price Index [Q2]: 8:30 am
Pending Home Sales [June]: 10:00 am
FOMC Interest-Rate Decision: 2:00 pm
Fed Chair Powell Press Conference: 2:30 pm

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Technology
Microsoft Trades Near Highs Ahead of Q4 Report as AI Story Strengthens

Microsoft [MSFT] is edging higher in premarket trading, up 0.3%, as the company prepares to report fiscal Q4 earnings after the bell.
Shares have risen 22.5% year to date and are hovering just below their all-time high of $518.29, reflecting optimism around the tech giant’s AI-driven growth strategy.
Analysts are expecting EPS of $3.35, up from $2.95 last year. Morgan Stanley reiterated a Buy rating and $530 target last week, citing strong cloud performance, accelerating demand for AI applications, and disciplined cost control as key positives.
Azure growth has reaccelerated, and broader adoption of Copilot and enterprise AI tools could give results an extra boost.
What also stands out is Microsoft's ability to balance investment and profitability. The company’s P/E ratio sits at 39.6, but investors are comfortable with the premium given the consistent execution and massive total addressable market in cloud, software, and AI infrastructure.
If Microsoft beats across the board as it did last quarter, it could reaffirm its leadership in the tech trade and lift sentiment across large-cap AI names. Investors will also be watching for commentary on operating margin trends and forward cloud momentum.
With MSFT shares just 1% below their record high, a strong print could send the stock into breakout territory. Keep it on your radar heading into the close.

Consumer
VF Corp Spikes 18% on Margin Recovery, Cost Cuts, and Positive Q2 Signals

VF Corp [VFC] is jumping over 18% in premarket trading after a better-than-feared Q1 that signaled early progress in the company’s transformation plan.
While revenue of $1.8 billion came in flat year over year, adjusted operating loss of $56 million was far narrower than guidance of up to $125 million. Gross margin improved 290 basis points, driven by cost discipline and improved mix.
Shares had been battered, down 42.4% year to date before the report, but management’s tone and outlook offered a reason to reassess.
Excluding underperforming Vans, total revenue rose 6%, with The North Face and Timberland continuing to post strong results. CEO Bracken Darrell, marking two years at the helm, said the company has “reset the table” and is now focused on reaccelerating growth.
Guidance for Q2 calls for a 2%–4% revenue decline, but operating income is expected to improve in a meaningful way. VF also reaffirmed its $0.09 dividend and emphasized debt reduction efforts, which have shaved $1.4 billion off the balance sheet compared to last year.
With shares trading at a forward P/E near 70 and still 57% off their 52-week high of $29.02, investors looking for a turnaround story may start to pay attention. If execution continues, VFC’s low base could offer long-term upside.

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Fintech
LendingClub Pops 24% After Huge Q2 Beat and Rising Guidance

LendingClub [LC] is surging around 24% in premarket trading after smashing Q2 estimates and guiding higher for the rest of the year. The digital lender posted earnings of $0.33 per share, more than double analyst expectations of $0.16.
Revenue climbed to $248.4 million, also well ahead of the $227.5 million forecast, driven by a 32% year-over-year jump in loan originations to $2.4 billion.
Despite being down 18.7% year to date heading into the report, LC shares are rebounding hard on renewed investor confidence. Management cited strong product engagement and new partnerships as key contributors to the quarter’s growth.
The company also delivered a return on tangible common equity (ROTCE) near 12%, reflecting a meaningful step forward on profitability.
For Q3, LendingClub expects originations to rise to $2.5–$2.6 billion and pre-provision net revenue between $90–$100 million. Executives reaffirmed a long-term ROTCE target of 11.5% and signaled continued investment in marketing and product expansion.
While macro headwinds and regulatory risks still loom, the company’s tech-first lending model and healthy liquidity, bolstered by a 3.97 current ratio, give it an edge in navigating volatility.
LC’s sharp premarket move suggests momentum could extend into the session, especially as short interest remains elevated. With a forward P/E of ~29 and upside to its 52-week high of $18.75, LendingClub could be regaining its upward trajectory.

Movers and Shakers

Qorvo Inc. [QRVO] – Last Close: $84.67
Qorvo builds RF systems used in smartphones, base stations, and defense applications. It counts Apple among its major clients and is gaining traction in 5G infrastructure.
Shares surged almost 10% premarket after Q2 results crushed estimates. Adjusted EPS of $0.92 beat the $0.60 forecast, and revenue of $818.8 million topped consensus by $43 million. While sales declined 7.7% year-over-year, margins held firm, and the company has now beaten earnings four quarters in a row. Seasonal demand and Apple’s upcoming iPhone cycle could provide further upside.
My Take: Execution is clearly improving, but valuation looks stretched. Worth tracking ahead of Apple’s September launch window.
AtriCure Inc. [ATRC] – Last Close: $31.73
AtriCure develops surgical solutions for atrial fibrillation, post-op pain, and appendage management. Its flagship products include AtriClip and cryoSPHERE.
The stock jumped 10%+ in early trade after Q2 revenue rose 17% to $136.1 million and EBITDA nearly doubled. International sales jumped 23%, and management raised full-year guidance while highlighting strong adoption of new products. Completion of the LeAAPS trial also sets the stage for meaningful expansion in its treatment portfolio.
My Take: This is shaping up to be a quiet medtech winner. Strong revenue growth and upcoming trial catalysts make it one to watch.
FTAI Aviation Ltd. [FTAI] – Last Close: $114.14
FTAI Aviation leases and services aircraft engines, with a focus on commercial narrowbody fleets. Its integrated model supports margin expansion.
Shares gained around 7% premarket after Q2 EPS of $1.57 beat by $0.28 and revenue smashed forecasts at $676 million. Demand for engines and parts remains strong as global travel rebounds, and FTAI’s dividend adds income appeal on top of growth.
My Take: FTAI is hitting a sweet spot in aviation leasing. Pricey, but supported by earnings momentum and supply-demand tailwinds.

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*This is a free resource from Zacks.com. Use of this material is subject to Zacks' Terms of Service.
*Past performance is no guarantee of future results. Investing involves risk. Nothing in this material is investment advice or a recommendation to buy, sell, or hold any security. Returns are based on hypothetical models with no transaction costs. The S&P 500 is an unmanaged index.

Everything Else
Germany’s economy returned to growth last quarter, but weak consumer spending and construction data suggest the rebound may not hold.
While Meta held back, Google agreed to sign the EU’s new voluntary AI pact, highlighting a growing rift among tech giants over global regulation.
Starbucks is rolling out a brand reset strategy that focuses on speed, digital orders, and global consistency after its latest earnings beat.
Adidas shares slipped as the company flagged a $231 million hit from U.S. tariffs and fell short of quarterly sales forecasts.
Trading desks carried the load again this quarter, helping big banks top earnings expectations despite soft wholesale price data and muted economic signals.

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— Adam Garcia
Elite Trade Club
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